There is this amazing opportunity to rehab and flip this nice outdated property in a very good location and it looks like the deal you have been anticipating for quite some time. You've probably heard that veteran house flippers, similar to the couple on HGTV's Flip or Flop, have an impressive average profit margin close to forty to fifty thousand dollars. No need to explain that their past experiences rehabbing, understanding of hard money loans, expertise in their housing market, and auction skills have played an important part in their successes. However, you're certain that your first class rehab and renovation abilities will assist you to do a quality job for this house — additionally, you have already lined up one of the premier general contractors in the business to take care of this job.

But where can you find the necessary financing for flipping? A traditional lending institution, like for example a bank, takes a minimum of 1 to 2 months to consent to the financing and provide the funds. Since the majority of sellers wish to have a fast closing, it may be advisable to begin seeking out other funding options.

Moreover, for those who have a sub-optimal credit situation or don't have a consistent source of income, it can be more difficult for you to qualify for a bank loan, with the stricter loan requirements banks have introduced lately. So will a lack of financing stop you from sticking with your aspirations? Certainly not, considering that you can always go the Boerne hard money loan route to finance your home flipping project.

A hard money home loan in Boerne provides what is probably most crucial to real estate investors — a quick closing in as few as a few weeks. What's more, the LTV value can reach up to 70% of the property value, as estimated by a credentialed appraiser. Some people consider hard money real estate loans to be more costly than regular loans, considering lending rates for such loans ordinarily start at 10%. But if you appreciate that these loans are not long-term loans, the rate of interest tends to be misleading. As it pertains to short-term loans of a few years or less, you should think of them just like you would other expenditures for the project. And when you have sold the property or home, recovering this expense is identical to recuperating the expense for all the kitchen and bath updates you performed.

Besides, hard money mortgages are easy qualifying, regardless if you posses very bad credit. Boerne hard money lenders do not authorize a loan strictly based on the borrower's credit score — rather they additionally look at the property or home, its location and value, and the home's capacity to pay back the financing independent of the applicant. How much of their own money a borrower can put upfront for the property, his real estate experience, and selling price of comparative homes in the vicinity are additional factors that go into ascertaining a borrower's suitability for a hard money real estate loan.

So if you have found a really great home to flip with a significant chance of returns, you have also discovered a hard money lender in Boerne who's ready to provide funding for your fix and flip projects. Complete the form or call us and let's talk about your project.